Immunome (NASDAQ:IMNM) Trading 4.4% Higher – What’s Next?

Immunome, Inc. (NASDAQ:IMNM) shares traded up 4.4% during trading on Wednesday . The company traded as high as $6.50 and last traded at $6.54. 69,107 shares were traded during trading, a decline of 92% from the average session volume of 873,806 shares. The stock had previously closed at $6.26.

Analyst Upgrades and Downgrades

IMNM has been the subject of several research reports. Lifesci Capital assumed coverage on Immunome in a report on Tuesday, March 11th. They issued an “outperform” rating and a $20.00 target price for the company. Guggenheim reduced their target price on shares of Immunome from $35.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Stephens reiterated an “overweight” rating and set a $30.00 price target on shares of Immunome in a research note on Thursday, March 20th. Lake Street Capital initiated coverage on shares of Immunome in a research report on Wednesday. They issued a “buy” rating and a $23.00 price objective for the company. Finally, Wedbush reissued an “outperform” rating and set a $33.00 target price on shares of Immunome in a research note on Thursday, March 20th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $25.14.

Immunome Stock Up 7.4 %

The company has a market capitalization of $584.40 million, a PE ratio of -0.83 and a beta of 1.93. The stock’s fifty day simple moving average is $9.36 and its 200-day simple moving average is $11.16.

Immunome (NASDAQ:IMNM) last issued its quarterly earnings data on Wednesday, March 19th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.16). The firm had revenue of $2.74 million for the quarter, compared to analyst estimates of $3.07 million. Immunome had a negative return on equity of 48.63% and a negative net margin of 3,014.59%. Analysts expect that Immunome, Inc. will post -2.21 EPS for the current year.

Insider Activity at Immunome

In related news, CTO Philip Tsai purchased 12,300 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was bought at an average cost of $8.42 per share, with a total value of $103,566.00. Following the completion of the acquisition, the chief technology officer now directly owns 33,300 shares in the company, valued at $280,386. The trade was a 58.57 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jean Jacques Bienaime acquired 7,000 shares of Immunome stock in a transaction dated Monday, March 24th. The stock was bought at an average price of $8.21 per share, for a total transaction of $57,470.00. Following the completion of the transaction, the director now directly owns 23,615 shares of the company’s stock, valued at approximately $193,879.15. This represents a 42.13 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 306,400 shares of company stock valued at $2,322,995. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Enavate Sciences GP LLC purchased a new stake in shares of Immunome during the fourth quarter worth about $36,939,000. JPMorgan Chase & Co. boosted its position in Immunome by 2,540.4% during the fourth quarter. JPMorgan Chase & Co. now owns 648,610 shares of the company’s stock worth $6,888,000 after acquiring an additional 624,045 shares during the last quarter. Janus Henderson Group PLC boosted its position in Immunome by 10.3% during the third quarter. Janus Henderson Group PLC now owns 3,488,121 shares of the company’s stock worth $50,971,000 after acquiring an additional 324,614 shares during the last quarter. Granahan Investment Management LLC purchased a new stake in Immunome in the 4th quarter worth approximately $3,337,000. Finally, Renaissance Technologies LLC raised its holdings in Immunome by 2,696.5% in the 4th quarter. Renaissance Technologies LLC now owns 316,000 shares of the company’s stock valued at $3,356,000 after acquiring an additional 304,700 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

About Immunome

Immunome, Inc, a biotechnology company, develops targeted cancer therapies. The company's clinical asset comprises AL102, an investigational gamma secretase inhibitor currently in evaluation in a Phase 3 trial for the treatment of desmoid tumors; and preclinical assets consist of IM-1021, a receptor tyrosine kinase-like orphan receptor 1 and antibody-drug conjugates, as well as IM-3050, a fibroblast activation protein targeted radioligand therapy; and IM-4320, an anti-IL-38 immunotherapy candidate.